Shell plc (SHEL) 10-Year Financial Performance & Capital Metrics

SHEL •

EnergyIntegrated Oil & GasIntegrated gas and LNG value chain

AboutShell plc operates as an energy and petrochemical company Europe, Asia, Oceania, Africa, the United States, and Rest of the Americas. The company operates through Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions segments. It explores for and extracts crude oil, natural gas, and natural gas liquids; markets and transports oil and gas; produces gas-to-liquids fuels and other products; and operates upstream and midstream infrastructure to deliver gas to market. The company also markets and trades natural gas, liquefied natural gas (LNG), crude oil, electricity, carbon-emission rights; and markets and sells LNG as a fuel for heavy-duty vehicles. In addition, it trades in and refines crude oil and other feed stocks, such as low-carbon fuels, lubricants, bitumen, sulphur, gasoline, diesel, aviation fuel, and marine fuel; produces and sells petrochemicals for industrial use; and manages oil sands activities. Further, the company produces base chemicals comprising ethylene, propylene, and aromatics, as well as intermediate chemicals, such as styrene monomer, propylene oxide, solvents, detergent alcohols, ethylene oxide, and ethylene glycol. Additionally, it generates electricity through wind and solar resources; produces and sells hydrogen; and provides electric vehicle charging services. The company was formerly known as Royal Dutch Shell plc and changed its name to Shell plc in January 2022. Shell plc was founded in 1907 and is headquartered in London, the United Kingdom.Show more

Revenue $267.51B -5.9%
EBITDA $53B -6.8%
Net Income $17.88B +11.1%
EPS (Diluted) 6.02 +19.0%
Gross Margin 16.67% +3.2%
EBITDA Margin 19.81% -0.9%
Operating Margin 11.51% +9.1%
Net Margin 6.68% +18.1%
ROE 10.06% +15.2%
ROIC 9.87% -1.4%
Debt/Equity 0.60 +39.3%
Interest Coverage 6.58 +6.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Healthy dividend yield of 3.4%
✓Share count reduced 6.5% through buybacks
✓Trading near 52-week high
✓Trading at only 1.4x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.1%

5Y8.18%

3Y-11.14%

TTM-5.91%

Profit (Net Income) CAGR

10Y24.88%

5Y-

3Y-24.96%

TTM10.79%

EPS CAGR

10Y25.93%

5Y-

3Y-19.22%

TTM17.93%

ROCE

10Y Avg7.16%

5Y Avg11.51%

3Y Avg10.09%

Latest10.61%

Peer Comparison

Integrated gas and LNG value chain

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BPBP p.l.c.	99.55B	38.86	1904.90	0.31%	0.03%	0.08%	11.35%	1.14
EEni S.p.A.	69.11B	46.94	24.27	-5.25%	3.23%	5.19%	8.69%	0.63
SLNGStabilis Solutions, Inc.	104.98M	5.65	22.58	0.24%	1.4%	1.52%	4.33%	0.14
EQNREquinor ASA	74.46B	29.83	15.30	3.56%	4.75%	12.45%	8.05%	0.83
SHELShell plc	235.77B	83.51	13.87	-5.91%	6.67%	10.17%	9.25%	0.60
TTETotalEnergies SE	172.1B	80.34	13.35	-2.99%	7.2%	11.18%	6.28%	0.52

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	233.59B	305.18B	388.38B	344.88B	180.54B	261.5B	381.31B	316.62B	284.31B	267.51B
Revenue Growth %	-11.84%	30.65%	27.26%	-11.2%	-47.65%	44.84%	45.82%	-16.97%	-10.2%	-5.91%
Cost of Goods Sold+	216B	276.32B	343.5B	308.12B	193.54B	225.66B	302.54B	269.41B	238.37B	222.91B
COGS % of Revenue	92.47%	90.54%	88.45%	89.34%	107.2%	86.29%	79.34%	85.09%	83.84%	83.33%
Gross Profit+	17.59B	28.86B	44.88B	36.76B	-12.99B	35.85B	78.78B	47.21B	45.94B	44.59B
Gross Margin %	7.53%	9.46%	11.55%	10.66%	-7.2%	13.71%	20.66%	14.91%	16.16%	16.67%
Gross Profit Growth %	13.43%	64.05%	55.51%	-18.09%	-135.36%	375.87%	119.75%	-40.08%	-2.68%	-2.93%
Operating Expenses+	15.22B	13.38B	13.69B	13.81B	12.54B	13.57B	15.67B	16.47B	15.95B	13.81B
OpEx % of Revenue	6.52%	4.38%	3.52%	4%	6.94%	5.19%	4.11%	5.2%	5.61%	5.16%
Selling, General & Admin	12.1B	10.51B	11.36B	10.49B	9.88B	11.33B	12.88B	13.43B	12.44B	12.64B
SG&A % of Revenue	5.18%	3.44%	2.93%	3.04%	5.47%	4.33%	3.38%	4.24%	4.38%	4.72%
Research & Development	1.01B	922M	986M	962M	907M	815M	1.07B	1.29B	1.1B	1.17B
R&D % of Revenue	0.43%	0.3%	0.25%	0.28%	0.5%	0.31%	0.28%	0.41%	0.39%	0.44%
Other Operating Expenses	2.11B	1.95B	1.34B	2.35B	1.75B	1.42B	1.71B	1.75B	2.41B	0
Operating Income+	2.37B	15.48B	31.19B	22.95B	-25.53B	22.28B	63.11B	30.74B	29.99B	30.79B
Operating Margin %	1.01%	5.07%	8.03%	6.65%	-14.14%	8.52%	16.55%	9.71%	10.55%	11.51%
Operating Income Growth %	172.59%	554.03%	101.47%	-26.43%	-211.26%	187.28%	183.22%	-51.3%	-2.42%	2.65%
EBITDA+	27.36B	41.7B	52.89B	48.05B	-549M	45.35B	85.5B	53.84B	56.86B	53B
EBITDA Margin %	11.71%	13.67%	13.62%	13.93%	-0.3%	17.34%	22.42%	17.01%	20%	19.81%
EBITDA Growth %	16.66%	52.43%	26.83%	-9.15%	-101.14%	8361.2%	88.52%	-37.03%	5.61%	-6.79%
D&A (Non-Cash Add-back)	24.99B	26.22B	21.7B	25.11B	24.98B	23.07B	22.39B	23.11B	26.87B	22.22B
EBIT	9.11B	22.06B	39.2B	30.04B	-22.76B	33.44B	70.16B	37.26B	34.78B	30.79B
Net Interest Income+	-3.05B	-3.02B	-2.7B	-3.48B	-3.53B	-3.07B	-4.3B	-2.06B	-2.4B	-2.72B
Interest Income	451M	904M	876M	1.08B	679M	539M	1.05B	2.57B	2.46B	1.96B
Interest Expense	3.5B	3.93B	3.58B	4.56B	4.21B	3.61B	5.35B	4.63B	4.86B	4.68B
Other Income/Expense	3.24B	2.65B	4.43B	2.54B	-1.44B	7.55B	1.71B	1.89B	-70M	-960.24M
Pretax Income+	5.61B	18.13B	35.62B	25.48B	-26.97B	29.83B	64.81B	32.63B	29.92B	29.83B
Pretax Margin %	2.4%	5.94%	9.17%	7.39%	-14.94%	11.41%	17%	10.3%	10.52%	11.15%
Income Tax+	829M	4.7B	11.71B	9.05B	-5.43B	9.2B	21.94B	12.99B	13.4B	11.66B
Effective Tax Rate %	81.61%	71.58%	65.56%	62.17%	80.39%	67.39%	65.28%	59.33%	53.78%	59.95%
Net Income+	4.58B	12.98B	23.35B	15.84B	-21.68B	20.1B	42.31B	19.36B	16.09B	17.88B
Net Margin %	1.96%	4.25%	6.01%	4.59%	-12.01%	7.69%	11.1%	6.11%	5.66%	6.68%
Net Income Growth %	135.95%	183.65%	79.95%	-32.16%	-236.84%	192.72%	110.48%	-54.24%	-16.87%	11.1%
Net Income (Continuing)	4.78B	13.44B	23.91B	16.43B	-21.53B	20.63B	42.87B	19.64B	16.52B	18.16B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	1.86B	3.46B	3.89B	3.99B	3.23B	3.36B	2.13B	1.75B	1.86B	928M
EPS (Diluted)+	1.16	3.12	5.60	3.90	-5.56	5.14	11.42	5.70	5.06	6.02
EPS Growth %	93.33%	168.97%	79.49%	-30.36%	-242.56%	192.45%	122.18%	-50.09%	-11.23%	18.97%
EPS (Basic)	1.16	3.16	5.64	3.94	-5.56	5.18	11.52	5.76	5.10	6.08
Diluted Shares Outstanding	3.95B	4.15B	4.17B	4.06B	3.9B	3.9B	3.71B	3.4B	3.18B	2.97B
Basic Shares Outstanding	3.92B	4.11B	4.14B	4.03B	3.9B	3.88B	3.67B	3.31B	3.15B	2.95B
Dividend Payout Ratio	211.52%	83.82%	67.12%	95.93%	-	31.11%	17.5%	43.35%	53.86%	47.49%

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	86.57B	95.4B	97.48B	92.69B	91.95B	128.76B	165.94B	134.12B	127.93B	107.17B
Cash & Short-Term Investments	19.13B	20.31B	26.74B	18.05B	31.83B	36.97B	40.25B	38.77B	39.11B	30.22B
Cash Only	19.13B	20.31B	26.74B	18.05B	31.83B	36.97B	40.25B	38.77B	39.11B	30.22B
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	25.77B	30.72B	27.54B	30.43B	21.97B	34.95B	39.54B	36.46B	31.23B	44.6B
Days Sales Outstanding	40.26	36.74	25.88	32.2	44.41	48.78	37.85	42.03	40.09	60.85
Inventory	21.77B	25.22B	21.12B	24.07B	19.46B	25.26B	31.89B	26.02B	23.43B	22.22B
Days Inventory Outstanding	36.8	33.32	22.44	28.51	36.69	40.86	38.48	35.25	35.87	36.38
Other Current Assets	15.69B	15.21B	16.73B	15.85B	15.02B	22.62B	39.75B	26.7B	28.45B	10.14B
Total Non-Current Assets+	324.71B	311.69B	301.71B	311.65B	287.31B	275.61B	277.09B	272.15B	259.68B	263.18B
Property, Plant & Equipment	236.1B	226.38B	223.18B	238.35B	209.7B	194.93B	198.64B	194.84B	185.22B	185.08B
Fixed Asset Turnover	0.99x	1.35x	1.74x	1.45x	0.86x	1.34x	1.92x	1.63x	1.54x	1.45x
Goodwill	12.99B	13.66B	13.72B	14.21B	14.04B	14.92B	16.04B	16.66B	16.03B	15.66B
Intangible Assets	10.98B	10.52B	9.87B	9.28B	8.67B	9.77B	9.66B	10.25B	9.48B	11.01B
Long-Term Investments	39.21B	35.15B	28.4B	25.8B	25.67B	27.21B	27.23B	27.7B	25.7B	29.33B
Other Non-Current Assets	25.43B	25.98B	26.55B	24.02B	29.23B	28.78B	25.52B	22.7B	23.25B	13.92B
Total Assets+	411.27B	407.1B	399.19B	404.34B	379.27B	404.38B	443.02B	406.27B	387.61B	370.35B
Asset Turnover	0.57x	0.75x	0.97x	0.85x	0.48x	0.65x	0.86x	0.78x	0.73x	0.72x
Asset Growth %	20.91%	-1.02%	-1.94%	1.29%	-6.2%	6.62%	9.56%	-8.3%	-4.59%	-4.45%
Total Current Liabilities+	73.83B	79.77B	77.81B	79.62B	73.71B	95.55B	121.31B	95.47B	95.03B	82.42B
Accounts Payable	28.07B	33.2B	30.35B	29.5B	22.66B	34.14B	42.63B	34.59B	29.77B	57.77B
Days Payables Outstanding	47.43	43.85	32.25	34.94	42.74	55.22	51.43	46.86	45.58	94.59
Short-Term Debt	8.36B	10.71B	9.11B	10.11B	12.76B	4.08B	4.62B	5.37B	6.94B	9.13B
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	21.26B	20.57B	23.02B	21.12B	22.19B	38.23B	51.13B	34.31B	38.67B	15.52B
Current Ratio	1.17x	1.20x	1.25x	1.16x	1.25x	1.35x	1.37x	1.40x	1.35x	1.30x
Quick Ratio	0.88x	0.88x	0.98x	0.86x	0.98x	1.08x	1.10x	1.13x	1.10x	1.03x
Cash Conversion Cycle	29.63	26.21	16.07	25.78	38.36	34.41	24.89	30.42	30.38	2.63
Total Non-Current Liabilities+	148.94B	129.52B	118.85B	134.25B	147.02B	133.51B	129.12B	122.44B	112.41B	112.62B
Long-Term Debt	69.26B	59.43B	53.69B	55.78B	66.84B	57.5B	51.53B	48.56B	41.5B	66.52B
Capital Lease Obligations	13.74B	14.44B	13B	25.58B	24.28B	23.37B	23.26B	23.07B	23.99B	28.93B
Deferred Tax Liabilities	0	0	0	0	10.46B	0	16.19B	15.35B	13.51B	11.98B
Other Non-Current Liabilities	65.95B	55.65B	52.16B	52.89B	45.45B	52.64B	37.88B	35.25B	33.22B	5.18B
Total Liabilities	222.76B	209.28B	196.66B	213.87B	220.73B	229.05B	250.43B	217.91B	207.44B	195.03B
Total Debt+	92.48B	85.67B	76.82B	96.42B	108.01B	89.09B	83.8B	81.64B	77.14B	104.58B
Net Debt	73.35B	65.35B	50.08B	78.37B	76.18B	52.12B	43.55B	42.87B	38.03B	74.36B
Debt / Equity	0.49x	0.43x	0.38x	0.51x	0.68x	0.51x	0.44x	0.43x	0.43x	0.60x
Debt / EBITDA	3.38x	2.05x	1.45x	2.01x	-	1.96x	0.98x	1.52x	1.36x	1.97x
Net Debt / EBITDA	2.68x	1.57x	0.95x	1.63x	-	1.15x	0.51x	0.80x	0.67x	1.40x
Interest Coverage	0.68x	3.94x	8.72x	5.03x	-6.06x	6.18x	11.80x	6.64x	6.17x	6.58x
Total Equity+	188.51B	197.81B	202.53B	190.46B	158.54B	175.33B	192.6B	188.36B	180.17B	175.32B
Equity Growth %	14.86%	4.93%	2.39%	-5.96%	-16.76%	10.59%	9.85%	-2.2%	-4.35%	-2.69%
Book Value per Share	47.77	47.67	48.52	46.96	40.67	44.92	51.98	55.40	56.62	58.94
Total Shareholders' Equity	186.65B	194.36B	198.65B	186.48B	155.31B	171.97B	190.47B	186.61B	178.31B	174.39B
Common Stock	683M	696M	685M	657M	651M	641M	584M	544M	510M	477M
Retained Earnings	175.57B	177.65B	182.61B	172.43B	142.62B	153.03B	169.48B	165.91B	158.83B	190.83B
Treasury Stock	0	0	0	0	0	0	0	0	0	-847M
Accumulated OCI	10.24B	15.86B	15.2B	13.23B	11.89B	18.14B	20.25B	19.99B	18.81B	-16.22B
Minority Interest	1.86B	3.46B	3.89B	3.99B	3.23B	3.36B	2.13B	1.75B	1.86B	928M

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	20.61B	35.65B	53.09B	42.18B	34.1B	45.1B	68.41B	54.19B	54.69B	40.81B
Operating CF Margin %	8.83%	11.68%	13.67%	12.23%	18.89%	17.25%	17.94%	17.12%	19.23%	15.26%
Operating CF Growth %	-30.85%	72.93%	48.91%	-20.55%	-19.14%	32.25%	51.68%	-20.79%	0.92%	-25.38%
Net Income	4.78B	18.13B	35.62B	25.48B	-26.97B	29.83B	64.81B	32.63B	29.92B	17.88B
Depreciation & Amortization	24.99B	26.22B	21.7B	25.11B	24.98B	23.07B	22.39B	23.11B	26.87B	22.22B
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	-729M	-6.45B	-7.68B	-3.64B	31.48B	2.57B	-13.36B	-9.38B	-4.17B	2.52B
Working Capital Changes	-8.43B	-2.25B	3.44B	-4.78B	4.61B	-10.37B	-5.43B	7.84B	2.06B	-1.81B
Change in Receivables	-4.13B	-2.58B	1.96B	-921M	9.63B	-20.57B	-8.99B	12.4B	6.58B	2.25B
Change in Inventory	-5.66B	-2.08B	2.82B	-2.63B	4.48B	-7.32B	-8.36B	6.33B	1.27B	1.92B
Change in Payables	0	0	0	0	0	0	0	0	0	-5.97B
Cash from Investing+	-30.96B	-8.03B	-13.66B	-15.78B	-13.28B	-4.76B	-22.45B	-17.73B	-15.15B	-18.83B
Capital Expenditures	-22.12B	-20.84B	-23.01B	-22.97B	-16.59B	-19B	-22.6B	-22.99B	-19.6B	-18.99B
CapEx % of Revenue	9.47%	6.83%	5.92%	6.66%	9.19%	7.27%	5.93%	7.26%	6.89%	7.1%
Acquisitions	-11.19B	1.58B	714M	1.86B	216M	105M	-1.46B	-728M	0	1.13B
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-19.78B	-9.61B	8.64B	5.07B	3.03B	14.06B	1.76B	6.13B	4.53B	-239.56M
Cash from Financing+	-771M	-27.09B	-32.55B	-35.21B	-7.22B	-34.66B	-41.95B	-38.23B	-38.43B	-31.76B
Debt Issued (Net)	11.07B	-11.83B	-8.33B	-3.42B	5.58B	-19.73B	-7.87B	-9.83B	-9.62B	-9.17B
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	-9.68B	-10.88B	-15.68B	-15.2B	-7.42B	-6.25B	-7.41B	-8.39B	-8.67B	-8.49B
Share Repurchases	-160M	-717M	-5.06B	-11.36B	-2.08B	-3.17B	-19.03B	-15.51B	-14.69B	-15.21B
Other Financing	-2.01B	-3.66B	-3.48B	-5.24B	-3.3B	-5.51B	-7.65B	-4.5B	-5.46B	1.11B
Net Change in Cash	-12.62B	1.18B	6.43B	-8.69B	13.78B	5.14B	3.28B	-1.47B	336M	-8.89B
Free Cash Flow+	-1.5B	14.8B	30.07B	19.21B	17.52B	26.11B	45.81B	31.2B	35.08B	21.82B
FCF Margin %	-0.64%	4.85%	7.74%	5.57%	9.7%	9.98%	12.01%	9.85%	12.34%	8.16%
FCF Growth %	-140.8%	1086.34%	103.13%	-36.13%	-8.79%	49%	75.5%	-31.9%	12.45%	-37.81%
FCF per Share	-0.38	3.57	7.20	4.74	4.49	6.69	12.36	9.18	11.03	7.34
FCF Conversion (FCF/Net Income)	4.51x	2.75x	2.27x	2.66x	-1.57x	2.24x	1.62x	2.80x	3.40x	2.28x
Interest Paid	0	0	0	0	0	0	0	0	4.56B	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	2.59%	6.72%	11.67%	8.06%	-12.42%	12.04%	23%	10.16%	8.73%	10.06%
Return on Invested Capital (ROIC)	0.78%	4.42%	9.07%	6.6%	-7.61%	7.23%	20.42%	9.86%	10.01%	9.87%
Gross Margin	7.53%	9.46%	11.55%	10.66%	-7.2%	13.71%	20.66%	14.91%	16.16%	16.67%
Net Margin	1.96%	4.25%	6.01%	4.59%	-12.01%	7.69%	11.1%	6.11%	5.66%	6.68%
Debt / Equity	0.49x	0.43x	0.38x	0.51x	0.68x	0.51x	0.44x	0.43x	0.43x	0.60x
Interest Coverage	0.68x	3.94x	8.72x	5.03x	-6.06x	6.18x	11.80x	6.64x	6.17x	6.58x
FCF Conversion	4.51x	2.75x	2.27x	2.66x	-1.57x	2.24x	1.62x	2.80x	3.40x	2.28x
Revenue Growth	-11.84%	30.65%	27.26%	-11.2%	-47.65%	44.84%	45.82%	-16.97%	-10.2%	-5.91%

US Stock Screener

...

Shell plc (SHEL) 10-Year Financial Performance & Capital Metrics

SHEL •

EnergyIntegrated Oil & GasIntegrated gas and LNG value chain

Revenue $267.51B -5.9%
EBITDA $53B -6.8%
Net Income $17.88B +11.1%
EPS (Diluted) 6.02 +19.0%
Gross Margin 16.67% +3.2%
EBITDA Margin 19.81% -0.9%
Operating Margin 11.51% +9.1%
Net Margin 6.68% +18.1%
ROE 10.06% +15.2%
ROIC 9.87% -1.4%
Debt/Equity 0.60 +39.3%
Interest Coverage 6.58 +6.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Healthy dividend yield of 3.4%
✓Share count reduced 6.5% through buybacks
✓Trading near 52-week high
✓Trading at only 1.4x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y0.1%

5Y8.18%

3Y-11.14%

TTM-5.91%

Profit (Net Income) CAGR

10Y24.88%

5Y-

3Y-24.96%

TTM10.79%

EPS CAGR

10Y25.93%

5Y-

3Y-19.22%

TTM17.93%

ROCE

10Y Avg7.16%

5Y Avg11.51%

3Y Avg10.09%

Latest10.61%

Peer Comparison

Integrated gas and LNG value chain

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BPBP p.l.c.	99.55B	38.86	1904.90	0.31%	0.03%	0.08%	11.35%	1.14
EEni S.p.A.	69.11B	46.94	24.27	-5.25%	3.23%	5.19%	8.69%	0.63
SLNGStabilis Solutions, Inc.	104.98M	5.65	22.58	0.24%	1.4%	1.52%	4.33%	0.14
EQNREquinor ASA	74.46B	29.83	15.30	3.56%	4.75%	12.45%	8.05%	0.83
SHELShell plc	235.77B	83.51	13.87	-5.91%	6.67%	10.17%	9.25%	0.60
TTETotalEnergies SE	172.1B	80.34	13.35	-2.99%	7.2%	11.18%	6.28%	0.52

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	233.59B	305.18B	388.38B	344.88B	180.54B	261.5B	381.31B	316.62B	284.31B	267.51B
Revenue Growth %	-11.84%	30.65%	27.26%	-11.2%	-47.65%	44.84%	45.82%	-16.97%	-10.2%	-5.91%
Cost of Goods Sold+	216B	276.32B	343.5B	308.12B	193.54B	225.66B	302.54B	269.41B	238.37B	222.91B
COGS % of Revenue	92.47%	90.54%	88.45%	89.34%	107.2%	86.29%	79.34%	85.09%	83.84%	83.33%
Gross Profit+	17.59B	28.86B	44.88B	36.76B	-12.99B	35.85B	78.78B	47.21B	45.94B	44.59B
Gross Margin %	7.53%	9.46%	11.55%	10.66%	-7.2%	13.71%	20.66%	14.91%	16.16%	16.67%
Gross Profit Growth %	13.43%	64.05%	55.51%	-18.09%	-135.36%	375.87%	119.75%	-40.08%	-2.68%	-2.93%
Operating Expenses+	15.22B	13.38B	13.69B	13.81B	12.54B	13.57B	15.67B	16.47B	15.95B	13.81B
OpEx % of Revenue	6.52%	4.38%	3.52%	4%	6.94%	5.19%	4.11%	5.2%	5.61%	5.16%
Selling, General & Admin	12.1B	10.51B	11.36B	10.49B	9.88B	11.33B	12.88B	13.43B	12.44B	12.64B
SG&A % of Revenue	5.18%	3.44%	2.93%	3.04%	5.47%	4.33%	3.38%	4.24%	4.38%	4.72%
Research & Development	1.01B	922M	986M	962M	907M	815M	1.07B	1.29B	1.1B	1.17B
R&D % of Revenue	0.43%	0.3%	0.25%	0.28%	0.5%	0.31%	0.28%	0.41%	0.39%	0.44%
Other Operating Expenses	2.11B	1.95B	1.34B	2.35B	1.75B	1.42B	1.71B	1.75B	2.41B	0
Operating Income+	2.37B	15.48B	31.19B	22.95B	-25.53B	22.28B	63.11B	30.74B	29.99B	30.79B
Operating Margin %	1.01%	5.07%	8.03%	6.65%	-14.14%	8.52%	16.55%	9.71%	10.55%	11.51%
Operating Income Growth %	172.59%	554.03%	101.47%	-26.43%	-211.26%	187.28%	183.22%	-51.3%	-2.42%	2.65%
EBITDA+	27.36B	41.7B	52.89B	48.05B	-549M	45.35B	85.5B	53.84B	56.86B	53B
EBITDA Margin %	11.71%	13.67%	13.62%	13.93%	-0.3%	17.34%	22.42%	17.01%	20%	19.81%
EBITDA Growth %	16.66%	52.43%	26.83%	-9.15%	-101.14%	8361.2%	88.52%	-37.03%	5.61%	-6.79%
D&A (Non-Cash Add-back)	24.99B	26.22B	21.7B	25.11B	24.98B	23.07B	22.39B	23.11B	26.87B	22.22B
EBIT	9.11B	22.06B	39.2B	30.04B	-22.76B	33.44B	70.16B	37.26B	34.78B	30.79B
Net Interest Income+	-3.05B	-3.02B	-2.7B	-3.48B	-3.53B	-3.07B	-4.3B	-2.06B	-2.4B	-2.72B
Interest Income	451M	904M	876M	1.08B	679M	539M	1.05B	2.57B	2.46B	1.96B
Interest Expense	3.5B	3.93B	3.58B	4.56B	4.21B	3.61B	5.35B	4.63B	4.86B	4.68B
Other Income/Expense	3.24B	2.65B	4.43B	2.54B	-1.44B	7.55B	1.71B	1.89B	-70M	-960.24M
Pretax Income+	5.61B	18.13B	35.62B	25.48B	-26.97B	29.83B	64.81B	32.63B	29.92B	29.83B
Pretax Margin %	2.4%	5.94%	9.17%	7.39%	-14.94%	11.41%	17%	10.3%	10.52%	11.15%
Income Tax+	829M	4.7B	11.71B	9.05B	-5.43B	9.2B	21.94B	12.99B	13.4B	11.66B
Effective Tax Rate %	81.61%	71.58%	65.56%	62.17%	80.39%	67.39%	65.28%	59.33%	53.78%	59.95%
Net Income+	4.58B	12.98B	23.35B	15.84B	-21.68B	20.1B	42.31B	19.36B	16.09B	17.88B
Net Margin %	1.96%	4.25%	6.01%	4.59%	-12.01%	7.69%	11.1%	6.11%	5.66%	6.68%
Net Income Growth %	135.95%	183.65%	79.95%	-32.16%	-236.84%	192.72%	110.48%	-54.24%	-16.87%	11.1%
Net Income (Continuing)	4.78B	13.44B	23.91B	16.43B	-21.53B	20.63B	42.87B	19.64B	16.52B	18.16B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	1.86B	3.46B	3.89B	3.99B	3.23B	3.36B	2.13B	1.75B	1.86B	928M
EPS (Diluted)+	1.16	3.12	5.60	3.90	-5.56	5.14	11.42	5.70	5.06	6.02
EPS Growth %	93.33%	168.97%	79.49%	-30.36%	-242.56%	192.45%	122.18%	-50.09%	-11.23%	18.97%
EPS (Basic)	1.16	3.16	5.64	3.94	-5.56	5.18	11.52	5.76	5.10	6.08
Diluted Shares Outstanding	3.95B	4.15B	4.17B	4.06B	3.9B	3.9B	3.71B	3.4B	3.18B	2.97B
Basic Shares Outstanding	3.92B	4.11B	4.14B	4.03B	3.9B	3.88B	3.67B	3.31B	3.15B	2.95B
Dividend Payout Ratio	211.52%	83.82%	67.12%	95.93%	-	31.11%	17.5%	43.35%	53.86%	47.49%

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	86.57B	95.4B	97.48B	92.69B	91.95B	128.76B	165.94B	134.12B	127.93B	107.17B
Cash & Short-Term Investments	19.13B	20.31B	26.74B	18.05B	31.83B	36.97B	40.25B	38.77B	39.11B	30.22B
Cash Only	19.13B	20.31B	26.74B	18.05B	31.83B	36.97B	40.25B	38.77B	39.11B	30.22B
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	25.77B	30.72B	27.54B	30.43B	21.97B	34.95B	39.54B	36.46B	31.23B	44.6B
Days Sales Outstanding	40.26	36.74	25.88	32.2	44.41	48.78	37.85	42.03	40.09	60.85
Inventory	21.77B	25.22B	21.12B	24.07B	19.46B	25.26B	31.89B	26.02B	23.43B	22.22B
Days Inventory Outstanding	36.8	33.32	22.44	28.51	36.69	40.86	38.48	35.25	35.87	36.38
Other Current Assets	15.69B	15.21B	16.73B	15.85B	15.02B	22.62B	39.75B	26.7B	28.45B	10.14B
Total Non-Current Assets+	324.71B	311.69B	301.71B	311.65B	287.31B	275.61B	277.09B	272.15B	259.68B	263.18B
Property, Plant & Equipment	236.1B	226.38B	223.18B	238.35B	209.7B	194.93B	198.64B	194.84B	185.22B	185.08B
Fixed Asset Turnover	0.99x	1.35x	1.74x	1.45x	0.86x	1.34x	1.92x	1.63x	1.54x	1.45x
Goodwill	12.99B	13.66B	13.72B	14.21B	14.04B	14.92B	16.04B	16.66B	16.03B	15.66B
Intangible Assets	10.98B	10.52B	9.87B	9.28B	8.67B	9.77B	9.66B	10.25B	9.48B	11.01B
Long-Term Investments	39.21B	35.15B	28.4B	25.8B	25.67B	27.21B	27.23B	27.7B	25.7B	29.33B
Other Non-Current Assets	25.43B	25.98B	26.55B	24.02B	29.23B	28.78B	25.52B	22.7B	23.25B	13.92B
Total Assets+	411.27B	407.1B	399.19B	404.34B	379.27B	404.38B	443.02B	406.27B	387.61B	370.35B
Asset Turnover	0.57x	0.75x	0.97x	0.85x	0.48x	0.65x	0.86x	0.78x	0.73x	0.72x
Asset Growth %	20.91%	-1.02%	-1.94%	1.29%	-6.2%	6.62%	9.56%	-8.3%	-4.59%	-4.45%
Total Current Liabilities+	73.83B	79.77B	77.81B	79.62B	73.71B	95.55B	121.31B	95.47B	95.03B	82.42B
Accounts Payable	28.07B	33.2B	30.35B	29.5B	22.66B	34.14B	42.63B	34.59B	29.77B	57.77B
Days Payables Outstanding	47.43	43.85	32.25	34.94	42.74	55.22	51.43	46.86	45.58	94.59
Short-Term Debt	8.36B	10.71B	9.11B	10.11B	12.76B	4.08B	4.62B	5.37B	6.94B	9.13B
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	21.26B	20.57B	23.02B	21.12B	22.19B	38.23B	51.13B	34.31B	38.67B	15.52B
Current Ratio	1.17x	1.20x	1.25x	1.16x	1.25x	1.35x	1.37x	1.40x	1.35x	1.30x
Quick Ratio	0.88x	0.88x	0.98x	0.86x	0.98x	1.08x	1.10x	1.13x	1.10x	1.03x
Cash Conversion Cycle	29.63	26.21	16.07	25.78	38.36	34.41	24.89	30.42	30.38	2.63
Total Non-Current Liabilities+	148.94B	129.52B	118.85B	134.25B	147.02B	133.51B	129.12B	122.44B	112.41B	112.62B
Long-Term Debt	69.26B	59.43B	53.69B	55.78B	66.84B	57.5B	51.53B	48.56B	41.5B	66.52B
Capital Lease Obligations	13.74B	14.44B	13B	25.58B	24.28B	23.37B	23.26B	23.07B	23.99B	28.93B
Deferred Tax Liabilities	0	0	0	0	10.46B	0	16.19B	15.35B	13.51B	11.98B
Other Non-Current Liabilities	65.95B	55.65B	52.16B	52.89B	45.45B	52.64B	37.88B	35.25B	33.22B	5.18B
Total Liabilities	222.76B	209.28B	196.66B	213.87B	220.73B	229.05B	250.43B	217.91B	207.44B	195.03B
Total Debt+	92.48B	85.67B	76.82B	96.42B	108.01B	89.09B	83.8B	81.64B	77.14B	104.58B
Net Debt	73.35B	65.35B	50.08B	78.37B	76.18B	52.12B	43.55B	42.87B	38.03B	74.36B
Debt / Equity	0.49x	0.43x	0.38x	0.51x	0.68x	0.51x	0.44x	0.43x	0.43x	0.60x
Debt / EBITDA	3.38x	2.05x	1.45x	2.01x	-	1.96x	0.98x	1.52x	1.36x	1.97x
Net Debt / EBITDA	2.68x	1.57x	0.95x	1.63x	-	1.15x	0.51x	0.80x	0.67x	1.40x
Interest Coverage	0.68x	3.94x	8.72x	5.03x	-6.06x	6.18x	11.80x	6.64x	6.17x	6.58x
Total Equity+	188.51B	197.81B	202.53B	190.46B	158.54B	175.33B	192.6B	188.36B	180.17B	175.32B
Equity Growth %	14.86%	4.93%	2.39%	-5.96%	-16.76%	10.59%	9.85%	-2.2%	-4.35%	-2.69%
Book Value per Share	47.77	47.67	48.52	46.96	40.67	44.92	51.98	55.40	56.62	58.94
Total Shareholders' Equity	186.65B	194.36B	198.65B	186.48B	155.31B	171.97B	190.47B	186.61B	178.31B	174.39B
Common Stock	683M	696M	685M	657M	651M	641M	584M	544M	510M	477M
Retained Earnings	175.57B	177.65B	182.61B	172.43B	142.62B	153.03B	169.48B	165.91B	158.83B	190.83B
Treasury Stock	0	0	0	0	0	0	0	0	0	-847M
Accumulated OCI	10.24B	15.86B	15.2B	13.23B	11.89B	18.14B	20.25B	19.99B	18.81B	-16.22B
Minority Interest	1.86B	3.46B	3.89B	3.99B	3.23B	3.36B	2.13B	1.75B	1.86B	928M

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	20.61B	35.65B	53.09B	42.18B	34.1B	45.1B	68.41B	54.19B	54.69B	40.81B
Operating CF Margin %	8.83%	11.68%	13.67%	12.23%	18.89%	17.25%	17.94%	17.12%	19.23%	15.26%
Operating CF Growth %	-30.85%	72.93%	48.91%	-20.55%	-19.14%	32.25%	51.68%	-20.79%	0.92%	-25.38%
Net Income	4.78B	18.13B	35.62B	25.48B	-26.97B	29.83B	64.81B	32.63B	29.92B	17.88B
Depreciation & Amortization	24.99B	26.22B	21.7B	25.11B	24.98B	23.07B	22.39B	23.11B	26.87B	22.22B
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	-729M	-6.45B	-7.68B	-3.64B	31.48B	2.57B	-13.36B	-9.38B	-4.17B	2.52B
Working Capital Changes	-8.43B	-2.25B	3.44B	-4.78B	4.61B	-10.37B	-5.43B	7.84B	2.06B	-1.81B
Change in Receivables	-4.13B	-2.58B	1.96B	-921M	9.63B	-20.57B	-8.99B	12.4B	6.58B	2.25B
Change in Inventory	-5.66B	-2.08B	2.82B	-2.63B	4.48B	-7.32B	-8.36B	6.33B	1.27B	1.92B
Change in Payables	0	0	0	0	0	0	0	0	0	-5.97B
Cash from Investing+	-30.96B	-8.03B	-13.66B	-15.78B	-13.28B	-4.76B	-22.45B	-17.73B	-15.15B	-18.83B
Capital Expenditures	-22.12B	-20.84B	-23.01B	-22.97B	-16.59B	-19B	-22.6B	-22.99B	-19.6B	-18.99B
CapEx % of Revenue	9.47%	6.83%	5.92%	6.66%	9.19%	7.27%	5.93%	7.26%	6.89%	7.1%
Acquisitions	-11.19B	1.58B	714M	1.86B	216M	105M	-1.46B	-728M	0	1.13B
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-19.78B	-9.61B	8.64B	5.07B	3.03B	14.06B	1.76B	6.13B	4.53B	-239.56M
Cash from Financing+	-771M	-27.09B	-32.55B	-35.21B	-7.22B	-34.66B	-41.95B	-38.23B	-38.43B	-31.76B
Debt Issued (Net)	11.07B	-11.83B	-8.33B	-3.42B	5.58B	-19.73B	-7.87B	-9.83B	-9.62B	-9.17B
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	-9.68B	-10.88B	-15.68B	-15.2B	-7.42B	-6.25B	-7.41B	-8.39B	-8.67B	-8.49B
Share Repurchases	-160M	-717M	-5.06B	-11.36B	-2.08B	-3.17B	-19.03B	-15.51B	-14.69B	-15.21B
Other Financing	-2.01B	-3.66B	-3.48B	-5.24B	-3.3B	-5.51B	-7.65B	-4.5B	-5.46B	1.11B
Net Change in Cash	-12.62B	1.18B	6.43B	-8.69B	13.78B	5.14B	3.28B	-1.47B	336M	-8.89B
Free Cash Flow+	-1.5B	14.8B	30.07B	19.21B	17.52B	26.11B	45.81B	31.2B	35.08B	21.82B
FCF Margin %	-0.64%	4.85%	7.74%	5.57%	9.7%	9.98%	12.01%	9.85%	12.34%	8.16%
FCF Growth %	-140.8%	1086.34%	103.13%	-36.13%	-8.79%	49%	75.5%	-31.9%	12.45%	-37.81%
FCF per Share	-0.38	3.57	7.20	4.74	4.49	6.69	12.36	9.18	11.03	7.34
FCF Conversion (FCF/Net Income)	4.51x	2.75x	2.27x	2.66x	-1.57x	2.24x	1.62x	2.80x	3.40x	2.28x
Interest Paid	0	0	0	0	0	0	0	0	4.56B	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	2.59%	6.72%	11.67%	8.06%	-12.42%	12.04%	23%	10.16%	8.73%	10.06%
Return on Invested Capital (ROIC)	0.78%	4.42%	9.07%	6.6%	-7.61%	7.23%	20.42%	9.86%	10.01%	9.87%
Gross Margin	7.53%	9.46%	11.55%	10.66%	-7.2%	13.71%	20.66%	14.91%	16.16%	16.67%
Net Margin	1.96%	4.25%	6.01%	4.59%	-12.01%	7.69%	11.1%	6.11%	5.66%	6.68%
Debt / Equity	0.49x	0.43x	0.38x	0.51x	0.68x	0.51x	0.44x	0.43x	0.43x	0.60x
Interest Coverage	0.68x	3.94x	8.72x	5.03x	-6.06x	6.18x	11.80x	6.64x	6.17x	6.58x
FCF Conversion	4.51x	2.75x	2.27x	2.66x	-1.57x	2.24x	1.62x	2.80x	3.40x	2.28x
Revenue Growth	-11.84%	30.65%	27.26%	-11.2%	-47.65%	44.84%	45.82%	-16.97%	-10.2%	-5.91%

Shell plc (SHEL) 10-Year Financial Performance & Capital Metrics

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Growth Metrics

Revenue CAGR

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EPS CAGR

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Profit & Loss

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Dividend History

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Price History

Revenue History

Financial Ratios

Shell plc (SHEL) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare SHEL vs Peers

vs TTE

vs BP

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios